Reporting on the conference at the end of 2017, held in New Jersey, Lube Report cited statistics and analysis from Lubrizol's Yair Rodriguez, Chevron Oronite's Davi Santos and Petronas' Guilherme de Paula as demostration that Latin America is emerging as a strong market for the latest automotive lubricants.
The overall message is that there is still a long way to go. Despite the two biggest local markets - Brazil and Mexico - facing challenging targets to meet their Paris Climate Agreement commitments by the end of the next decade, according to reported API statistics, only 21% of current Passenger Car Motor Oil demand across the continent is for the latest API specification products. The majority of the market is still made up of older SL and now obsolete SG and SH categories.
The good news, according to the experts, is that the Latin American market is growing exponentially, with the vehicle parc expected to double within the next five years. That means new, or newer, vehicles with consequently boosted demand for higher-performance, lower-viscosity fully or semi-synthetic lubes. This not only applies to passenger cars, but heavy-duty vehicles as well.
The trend also has the potential to boost the region's base oil markets with increased demand for higher Group products, particularly Group III. The outcome could be a reduction in base oil import costs to Latin American countries.
Published 10th January, 2018
additives Africa And finally Asia Australia automotive industry Aviation base oil bio fuels bio lubes BMW BP Brazil Castrol Chevron China China and finally China Internet Marketing China Lubes Marketing China lubes news China Lubes Tech China OEM Equipment CNOOC CNPC CO2 emissions ConocoPhillips Corporate News e-commerce electric vehicles Environment and Regulatory watch Environment, regulatory and standards Europe ExxonMobil Ford Forecasts Fuchs GM Great Wall India innovation Inovation and environment Internet marketing Japan Lubes marketing Lubes news Lubes tech Lubricants marine Middle East Mobile technology motorsport N America Nissan North America OEM and automotive OEM Equipment PetroChina Russia S America Scandinavia Shell Sinopec social media Total Toyota View from the Bridge Volkswagen Volvo